The rupee saw a steep loss of 42 paise to settle at 91.50 (provisional) against the US dollar on Monday after US and Israeli attacks on Iran intensified worldwide risk aversion, setting crude oil prices on fire and demand for the American currency soaring. Massive selling in domestic equity markets and withdrawal of foreign funds…
The Indian rupee gained over 40 paise against the US dollar on Monday, February 2, following a possible intervention by the Reserve Bank of India (RBI) to shore up the domestic unit. The forex market opened for trading after a two-day weekend holiday during which the Union Budget, presented by the Finance Minister in the…
The Indian rupee hit a fresh record low on Friday, January 23, amid strong demand for the US dollar from corporates and importers. The rupee slipped to 91.99, slipping past the previous record low of 91.7425 hit on Wednesday. Meanwhile, from its last closing price of 91.41, the domestic unit slumped 0.63%. (This is a…
The Indian rupee ended lower on Thursday after a choppy session as fresh, surprise intervention by the Reserve Bank of India was outweighed by tariff worries and equity outflows. The currency, which opened at 89.95 rebounded to 89.75 after RBI intervened for a second straight day, bankers said. It finally ended at 90.0175 after closing…
